One of the tasks of AS Augstsprieguma tīkls (AST) as a transmission system operator is to perform electricity market surveillance in accordance with Regulation (EU) No 1227/2011 of the European Parliament and of the Council of 25 October 2011 on wholesale energy market integrity and transparency, along with its amendment by Regulation (EU) No 2024/1106 of 11 April 2024.
This regulation is more widely known as the REMIT Regulation (Regulation on Wholesale Energy Market Integrity and Transparency). The purpose of the REMIT Regulation is to ensure the integrity and transparency of wholesale energy markets by preventing market manipulation and abusive practices.
Together with the other Baltic transmission system operators – Elering AS in Estonia and Litgrid AB in Lithuania – AST organizes the Baltic balancing capacity market (FCR, mFRR, aFRR) and serves as an intermediary for Latvian balancing market participants in joining the European balancing platforms MARI (mFRR) and PICASSO (aFRR). The Baltic balancing markets include the mFRR energy reserve market via the MARI platform, the aFRR energy reserve market via the PICASSO platform, as well as the FCR, mFRR and aFRR capacity reserve markets through the Baltic capacity market.
Article 15 of the REMIT Regulation requires each Baltic electricity transmission system operator to perform surveillance of the Baltic balancing market in order to detect market manipulation and the use of inside information in trading, and to report any identified suspicious transactions in the Baltic balancing markets to the national regulatory authority – the Public Utilities Commission and to the European Union Agency for the Cooperation of Energy Regulators (ACER).
To ensure compliance with these requirements, AST has developed a methodology and implemented procedures for identifying potential REMIT breaches. The market surveillance methodology was prepared in cooperation with the Baltic TSOs and Nord Pool AS as advisory support.
Market surveillance contact e-mail: [email protected]
To ensure fair and transparent trading and to provide support to balancing market participants, AST together with the other Baltic transmission system operators has developed the Balancing Market Best Practice Guidelines. The document is based on the 6th Edition of the ACER Guidance on the application of REMIT, as well as on the seminar on market surveillance held on 13 November 2024 for Baltic balancing market participants.
Documents
The Baltic transmission system operators – AS Augstsprieguma tīkls, Elering AS, and Litgrid AB (Baltic TSOs) – organized an online seminar for Baltic balancing market participants on 13 November 2024, focused on market surveillance. The seminar provided the latest information and answers to questions regarding market surveillance in the Baltic balancing markets. The Baltic balancing markets include the mFRR energy reserve market via the MARI platform, the aFRR energy reserve market via the PICASSO platform, and the FCR, mFRR, and aFRR capacity reserve markets via the Baltic capacity market.
The presentation shown during the seminar can be found here, and the seminar recording is available for viewing below.